Sales in its applied ceramics unit – which produces PV modules, among other products – dropped to ¥53.8bn, from approximately ¥61.5bn a year earlier.
It partly attributed the decline to falling PV module prices. But it also said that its orders for utility-scale solar projects are expected to rise from the second quarter.
"The growth of the solar energy market in Japan slowed due mainly to the conclusion of government subsidies supporting residential-use solar power generation systems and the impact of the increase in the consumption tax rate," the Kyoto-based conglomerate said in an online statement.
"Sales
